On September 22 a Meeting of the Board of Directors of IDGC of Volga, JSC took place in Moscow with face-to-face and virtual participation under the head of Gennady Binko, Deputy General Director of IDGC Holding, JSC. At the Meeting the Business Plan fulfillment results (including the investment plan) of the Company for the II quarter and the first half of 2010 were considered.
The results for the first half of the current year are characterized by the growth of productive electric supply in all regions of the Company's presence. Its overall increase in comparison with the corresponding period of the last year amounts to 6.3%.
Proceeds from sales of products for the reporting period amounts to 19,827 million rubles. Electric power transmission services brought 98% of the sum.
Based on the Company's performance in the first half of 2010, the Company’s net income totaled 277 million rubles.
According to the results of the reporting period, the repair plan was fulfilled to the sum of 345 million rubles or 102% of the assigned funds. The bulk of the repairs (82%) was done using Company's own resources. Since the beginning of the current year 5,679 km of transmission lines have been repaired; 1,793 substations have been completely overhauled; cuttings have been laid through 388 hectares.
The volume of capital investment assimilation amounts to 615 million rubles of capital investments or 107% of the approved plan. Within 6 months of the current year the Company put into operation 51.28 km of transmission lines and 56.88 MVA of transformer power to the sum of 372.2 million rubles.
The Board of Directors of IDGC of Volga, JSC unanimously made a decision to approve the report on the Business Plan fulfillment results (including the investment plan) for the II quarter and the first half of 2010.